Terra Project Halted as Bitcoin Falls Below $27,000

Installation of Bitcoin in Los Angeles

The days of success in the cryptocurrency market seem over for now.

(Photo: Bloomberg)

Denver, Dusseldorf The liquidation of the crypto market seems endless. According to data from analyst house Coinmarketcap, the oldest and largest digital currency Bitcoin temporarily fell back to $26,350 on Thursday – the lowest price since December 2020. The discount from last November’s record is now $26,350. more than 60%. “Bitcoin and Co. have their backs against the wall,” said crypto analyst Timo Emden.

The development for the whole market is just as spectacular as with Bitcoin. Ether, the second largest cryptocurrency, fell below the $2000 level. Here too, the minus compared to last November’s record is more than 60%.

The market capitalization of all cryptocurrencies has since fallen from just under $3 trillion to under $1.2 trillion. In the past seven days alone, over $600 billion has been taken out of the market.

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